What Happens to Your Points When You Cancel a Rewards Credit Card? + MORE Mar 21st

The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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What Happens to Your Points When You Cancel a Rewards Credit Card?
The moment you redeem your credit card rewards can feel exhilarating. Maybe you’ve treated yourself to new merchandise, event tickets, or a free flight. But, when it is time to upgrade your credit card or cancel it altogether, the outcome may not be so joyous.
Depending on the type of rewards card you have, you may lose out on your hard-earned points. Luckily, many providers offer points conversion options or are associated with loyalty programs. And, if you are patient, you may be able to switch credit card companies without having to cut your losses.
Credit Card Rewards Programs
Standard credit card rewards plans fall under two main categories: in-house points and third-party loyalty programs.
In-House Programs
In-house programs are those that offer rewards solely through the credit card company itself.
Here are some examples of in-house credit card rewards programs offered in Canada:

American Express Membership Rewards: Apart from cash back, Aeroplan, and Marriott rewards options, American Express features its own in-house rewards system on many of its cards, including the American Express CobaltTM Card…

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Reminder: Opt-in to receive emails from Sobeys and get 25 free AIR MILES Reward MilesEarlier this week we posted about Shifting your loyalty strategy to help with these trying times and one of the key points in that post was using AIR MILES Cash Miles to help with your finances. Which means any opportunity you can get to earn more miles to boost your balance up is a welcome one. We have posted about this offer before and just wanted to send it out again as a friendly reminder! If you have never opted in to receive emails from Sobeys you can do so with via this offer and get 25 AIR MILES for free for doing so. REMEMBER though to set your AIR MILES earning preference to Cash Miles before signing up to make sure you keep these new miles more liquid!Offer details:25 Free AIR MILES Reward Miles for subscribing to emails from Sobeys. Full details.Once you start receiving the emails don’t just delete them! Read them and click on the ‘Load offers’ link in them as you should be getting bonus miles offers every week. Here are examples of some I received this past week:BMO AIR MILES Mastercard

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Online shopping portals have eligible Amazon.ca purchases curtailedThanks to Rewards Canada reader Todd W. for forwarding details about new limitations on Amazon.ca purchases made via the Aeroplan eStore. We dug a little deeper and it’s not just Aeroplan who has limited what Amazon.ca purchases earn Aeroplan miles, we see the same thing with airmilesshops.ca, Rakuten (nee ebates.ca). As you can see the categories you can earn miles on have been really cut back while the cash back sites no longer award anything on Amazon.ca purchases.Here are the updated terms for Amazon.ca purchases made via the Aeroplan eStore:Earn 1 Aeroplan Miles for every $1 you spend on participating categories. Aeroplan miles will be earned across the following categories when shopping on Amazon.ca via the Aeroplan eStore: Apparel, Cloud Cam & Blink, Echo Devices, Eero Devices, Fashion, Fire Tablets, Fire TV Devices, Furniture, Handmade, Home, Kindle Devices, Kitchen, Luggage, Pet Products, Ring Devices. Categories for Aeroplan mile earn may change from time to time.Please note that the following categories, as well as any others not listed above, are not eligible for earn of Aeroplan miles at this time: Arts & Crafts, Automotive, Baby & Nursery, Beauty, Books & Textbooks, Camera & Photo, Cell Phones & Accessories, Computers, Electronics & Audio, Grocery & Gourmet, Health & Personal Care, Home Entertainment, Home & Portable Audio, Jewelry, Kindle eBooks, Kindle Tablet Accessories, Lawn & Garden, Magazine Subscriptions, Major Appliances, Mobile Electronics, Movies & TV Shows, Music, Musical Instruments, Office & School Products, Outdoor, Power & Hand Tools, Shoes, Software, Sports & Outdoors, Tools & Hardware, Toys, Video Games, Watches, Wireless Accessories and gift cards…

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